SYDNEY (XFN-ASIA) - Share prices are expected to open higher as investors take encouragement from positive overseas leads including Friday's record close on Wall Street, dealers said.
They said resources stocks including BHP Billiton and Woodside Petroleum should make gains following signs that a fall in oil prices might have run its course.
The S&P/ASX 200 March futures contract ended its last session up 14.0 points at 5,633.0, suggesting a positive start to trading.
On Friday, the S&P/ASX 200 closed up 73.9 points or 1.33 pct at its high for the day of 5,638.8. Over the trading week the key index gained 66.8 points or 1.2 pct.
The broader All Ordinaries index finished up 69.2 points or 1.25 pct on Friday at 5,611.9.
In New York share prices advanced after stronger-than-expected December retail sales data, with sales increasing 0.9 pct from November compared with expectations of a 0.6 pct monthly gain.
The Dow Jones Industrial Average ended up 41.1 points at 12,556.08.
News Corp ended steady while National Australia Bank American Depositary Receipts jumped 2.12 pct.
In London, the FTSE 100 index ended 8.9 points higher at 6,239.0.
BHP Billiton ended down 0.75 pct while Rio Tinto eased 0.68 pct.
Crude oil prices rose on Friday as investors covered positions ahead of a long weekend as well as on speculation that OPEC oil ministers may call on emergency meeting to address sliding oil prices. Iran has indicated that there has been no decision on whether to call a meeting.
The February Nymex crude contract rose 1.11 usd to 52.99 usd a barrel.
Base metal prices fell on Friday as renewed weakness in the copper market weighed on other metals.
Copper fell 2.6 pct as investors fretted about the prospect for slower growth in China while nickel lost 2.6 pct and zinc fell by 2.9 pct.
Gold rose by more than 2 pct on Friday, lifted by a stronger oil price and short-covering.The February benchmark Comex gold contract rose 13.00 usd to 626.90 usd an ounce.
Ahead in Australia, November housing finance figures will be released together electronics and furniture retailer Harvey Norman Ltd's second quarter sales.
(1 usd = 1.28 aud)
bruce.hextall@xfn.com